Smart Money Capital Reviews 

Classic bait and switch.

Step 1: Receive mailer that you are “Preapproved” for a loan of a large number with a super low interest rate.

Step 2: Have someone call you and want to share their life story and get yours so that you trust them and become mentally invested.

Step 3: Tell you that you are approved for a small fraction of what the mailer said and an interest rate of 6 times what the mailer said.

Step 4: They encourage you to take a “debt settlement program” where you stop paying your bills and let every account you have go derogatory, meanwhile you give them money into an account, then finally the credit card companies settle, you pay Smart Money a HEAVY premium and your credit is effed.

Smart Money Capital is GARBAGE!

I really should have trusted my gut but of course I didn’t. Received their certificate in the mail and of course this is a complete bait and switch company. They are only trying to sale credit counseling. I told the salesman to not pull my credit if this is only for that. Was told they don’t only operate off of scores and a loan even if less than requested would be offered but it wasn’t for credit counseling period. So not to my surprise it was a complete lie. Don’t respond to this letter at all and if you do need credit counseling don’t use this company. You can’t trust what they say so how are you sure they are not just taking your money!

Smart Money Capital couldn't find a lender to give me a loan, but they were able to provide me with a bank and a legal site in order to pay down my bills to become debt free. As of right now I am skeptical on how this will work but am hopeful that things will work out seamlessly.

Peter Maggs

I was sent pre-approval in which they noted I am maxed on some cards. My plan was to use the loan to pay all the accounts and have a lower expenditure each month. They turned me down down, for the reason stated on the pre-approval..... Maxed cards....Does that make sense? Why send me the pre-approval if they where going to turn me down for something they all ready knew? Then they wanted me to sign up for "consolidation" where I let all my accounts go default and they work to negotiate a lower balance! I wanted to pay them off not go DEFAULT!!

Daniel was genuinely helpful. He helped me to understand what financial help would serve me better. A loan with high interest rate is not the answer. He's very patient! Thanks!

I called to learn more about loan options, and I was advised on the best way to consolidate my credit cards, secure a low-interest rate, and pay off my debts faster and for less. Leah was excellent, she clearly explained the options suitable for me and guided me through the process. She was patience, a great communicator, and very knowledgeable.
Thank you for the opportunity, and I look forward to a successful debt resolution!

I'm giving 2 stars because although I decided not to go through with it, this might work for someone who is behind with their payments and really struggling to keep up with their debt. I would just caution about giving sensitive personal and banking information on a recorded line for "verification" purposes.

As for my experience, to begin with, I do not like talking with someone using a script. I guess it makes sense that he must go over certain points on a recorded line to protect the company from people claiming ignorance to the process when their expectations are not met. However I couldn't get a straight answer at first about whether they can offer an unsecured personal loan as the advertisement I received in the mail alluded to.
It is my personal opinion that it was a lure to get my information and offer me the services of their "trusted" partner, a company called Cordoba.
Another red flag I ignored was that the agent I was working with made a point, at least twice in our conversation to mention a client he claimed was a "judge" that had a great experience and the services offered helped that person greatly. I'm not impressed, for all I care it could have been someone who judged food contests, whatever. It is my experience when someone tries to impress you with who they know, they are trying to sell a baloney sandwich and say it's caviar.
Now here is the most disturbing and egregious practice in my whole interaction, they expect you to give your personal information including social security number, bank account and routing number ON THE RECORDED LINE.
Honestly, I feel like a fool going along with it because I know better but now I have a fraud alert with the credit companies and closed that bank account just as a precaution.
Also I suspect the agent/representative I spoke with straight lied to me this morning when he said they already spoke to my creditors last night and that they were already working with them. This was an obvious reach to get me to reconsider canceling.
All of this has left an unsettled feeling about doing any business with this company and I am glad that I cancelled.
The cancelation process was not easy, I had to call customer service and waited on the phone a while. When I spoke with that representative it was like breaking up with a needy boyfriend that just "wants what's best for you" and he knows what's best even if you don't - that was definitely the vibe.
But I received email confirmation that day of the cancelation and I am hopeful that's the end of this transaction.

Although I was not approved the loan I was looking for ,I was offered an alternate plan to address my credit card debt issues

Thank to this simple ten to fifteen-minute process, I talked with courteous people who explained everything completely. They were able to lower my interest rates and allow me to have more affordable payment, and pay off my loans faster; and save money in the process.

From start to finish I was informed of all that was involved in applying for this loan. Alfred answered all my questions and got back to me in a timely manner when he had more information for me. I would recommend to family and friends.

Although unable to get a loan Smart Money Capital quided me with another option which was successful. I never would have known about it never mind get through it by myself. I highly recommend them!!

I recieved multiple pre-approvals letters from companies offering loans to help pay off your debt. You go through all the steps and they tell you they will give you the loan, but you will need to close all of CC's or they cannot give you the amount you need. In dealing with Robb Desoto with Smart Money Capital, he listened to my needs and explained everything in detail before proceeding. It took Robb 20 mins to get back to me, presenting multiple offers and I was able to make an informed decision to move forward. I had 13 credit cards that totaled 16000 that I was able to use pay off, a day and a half after accepting. My credit score will shoot through the roof and I can re-finance in 6 months to offset my current interest rate. Mind you I was paying over 800.00 in payments a month and now, I pay 550.00. I appreciate you Robb and Smart Money Capital.

At first I was skeptical when they gave me an alternative for my loan application to pay off my debt, turned out to be a better one, the real solution to paying out debt. With the help of reprentative the process is quick and brief.

The agent that helped me with a debt relief program was great. I could not get an loan but I really needed the help so they offered debt relief. This was the best option for me. They were very helpful and very informed. I really appreciate their services!

They were very helpful. Even though they couldn't get me a loan, they found another for me to pay off my credit card debt consolidation that will work for my benefit.

Responded to a marketing gimmick mailer that promised that I was pre-approved for a personal loan.

I was intrigued because I have quite a bit of credit card debt and was looking to consolidate and pay less interest. My credit score is 730 and I pay more than the minimum and always on time. My income fluctuates and it's normal for me to get large paydays followed by lighter months. Currently I'm in a longer lull than normal and it's making me freak out.

I wasn't eligible for the loan (reduced income, hardship, high utilization) so it immediately went to debt consolidation pitch.

The spiel was centered around "savings"

Basically you stop paying your bills and they negotiate a settlement for you. They will tell you there's no interest and emphasize the savings and how you will be out of debt so much faster, in a matter of 48 months or even less when you adhere to their payment program.

I'm giving one star because it took me asking several times over a few days to get the breakout of what/where payments were going. They were not forthright in how they make their money or what their fee structure looks like.

To break it down simply it looks like this:
Say you have 100k in debt and paying 25% interest annually.
Smart Money negotiates and settles that to 55k in debt with no interest and then tacks on fee of 25% of the original debt or 25k fee.

You then make a fixed payment bi weekly to smartmoney to pay down the now 80k balance. They call that 20k in savings.

To me, its worth it to preserve my credit rating because its useful for things like mortgages, leases, and medical care credit (like if you need to finance something major, like IVF)

I shopped around and spoke with Accredited and Freedom Debt Relief (both A+ BBB rated) and was given the lowdown on how these programs work in under thirty minutes.

I found the sales pitch practices of Smart Money Capital suspect, they are small, they aren't even BBB accredited. The trust pilot five star reviews look padded and don't give any real story of how they operate.

When I made the call I was looking to apply for a loan to consolidate my current loans. When I did mot qualify for that loan, Alyssa took it one step further to talk about another program. I was not sure if it was real and needed time to process the information she shared. She gave me time and checked back in. I felt no pressure from her. She explained everything along the way and made herself available to answer my questions. I followed through with the application, was approved and feel so much better. Thank you Alyssa for the EXCELLENT customer service!!!

Is it just my run away imaginination or does every review here sound like the Reps they are talking to are now the reviewers new best friend? I have no better idea about the loan process with Smart $$. Are they a legitamate company? Are they the lender or is everything brokered out to other lenders?

Michael was very helpful. I was hesitant to call after receiving an offer in the mail. I a little over an hour, the loan was all taken care of.

Ron was great! Although I didn’t qualify for a loan but Ron gave me the other option. Great customer service! Highly recommend